Amazon is well on the way to becoming one of the world’s biggest retailers.
It already claims to carry “Earth’s largest selection”.
Yet over half the sales on Amazon are made via Marketplace sellers; small businesses who use Amazon as a platform for their online store. Some are brand owners; others retailers with a small number of stores who can achieve sales growth with Amazon’s massive reach.
For many small businesses (SMEs) the business-to-business relationship with Amazon is a little unnerving.
Most SMEs keep their customer relationships close to home, recognising that personal interaction is a significant driver of their future growth. Not so with Amazon, where meeting with a buyer or even finding a phone number can be quite a challenge.
The “self-service” nature of managing your range on Amazon requires not just sales and marketing nous, but technical aptitude too, something Amazon’s resolution system can be slow to assist with.
The problem is worse because Amazon is bigger than you think.
Amazon will be a top 5 customer for many SMEs selling consumer products, but their reach goes way beyond that. It’s now believed that over 70% of customer sales are influenced by Amazon as shoppers browse competitor products, price and reviews on the Amazon site.
This means that appearing at the top of Amazon’s search algorithm – winning the “Buy Box” – is crucial to the success of your sales in Amazon and beyond.
So, if you don’t have the hefty Key Account Management (KAM) resource that the global players in this space enjoy, how can you ensure you’re managing Amazon to its full potential?
Responding to this question there is an emerging trend for boutique, specialist businesses who can manage Amazon on your behalf.
Providing services from the initial account set up, through to ongoing relationship management and promotion scheduling, these businesses provide digital marketing skills to ensure problems can be addressed and resolved quickly.
And, compared to the cost of an account manager, it’s a service that can be surprisingly low cost.
Gillian Waddell, of Fuel for Amazon, explains: “We realise that not all businesses have the resource to specialise in dealing with online retailers, so we take away the headache of managing the largest one – Amazon. We provide a full-service offering from account set-up to ongoing relationship management, ensuring our clients’ brands are best represented on the site.”
To find out more about Sales Growth and Amazon contact Martin Knowles https://heart-of-business.co.uk/members/martin-knowles/ using this link https://heart-of-business.co.uk/contact-us/